LDC backs MBO of TXM Plant

The group of acquirers was led by managing director Gareth Richardson, business development director Rob Killen and finance director Patrick Matthews. The business was sold via an auction process, in which strategic and financial investors also participated. Adviser Bluebox stated the MBO solution was the one that met the varying objectives of key stakeholders.

As part of the deal, former Network Rail board director Keith Ludeman became non-executive chairman for TXM Plant.

LDC stated the business has doubled its turnover to £45m over the last three years by securing new contracts.

Company
TXM Plant supplies road-rail vehicles, attachments and associated labour to contractors working on the UK's rail infrastructure. The business operates from its head office in Milton Keynes and depots in Sittingbourne, Langley, Norfolk, Bristol, Cardiff, Solihull, Doncaster, Wigan and Motherwell.

TXM Plant stated it has assets in excess of £45m and will deliver revenues of £60m in the current financial year.

People
Bluebox – Paul Herman (director).
TXM Plant – Gareth Richardson (managing director).

Advisers
Company – Bluebox (corporate finance).
Equity – Clearwater (debt).

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